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Faraway is a small, isolated community served by one newspaper that can meet the market demand at a lower cost than two or more newspapers
Faraway is a small, isolated community served by one newspaper that can meet the market demand at a lower cost than two or more newspapers could. The Faraway Beacon is the only source of news. The graph shows the marginal cost of printing the Faraway Beacon and the market demand for it. The Faraway Beacon is a prot-maximizing, single-price monopoly. >> Draw only the objects specied in the
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